Nomura and Royal Bank of Scotland may face $500m in damages for what a judge called an 'enormous' deception in the sale of defective mortgage-backed securities, a ruling that may spur other banks to settle similar claims tied to the 2008 financial crisis.

Nomura has announced that Nomura Institute of Capital Markets Research (NICMR) will enhance the Group’s financial and capital markets research capabilities in Asia with a special focus on ASEAN countries.

Nomura will defend claims by a U.S. regulator that it sold defective mortgage-backed securities to Fannie Mae and Freddie Mac before the 2008 financial crisis, becoming the first bank to take such a case to trial.

Nomura has announced the appointments of Yang Zhao as China Chief Economist and Sophie Jiang as Head of Hong Kong and China Banks Equity Research, as the firm continues to enhance its research platform in the region.

Nomura and Royal Bank of Scotland may face $500m in damages for what a judge called an 'enormous' deception in the sale of defective mortgage-backed securities, a ruling that may spur other banks to settle similar claims tied to the 2008 financial crisis.